Mr Calvin Tan, Do not simply brand people foolish. It is up to individual on risk taking !
with due respect , yourself is IGNORANT on the term for compulsory acquisition . Please at least read the takeover offer document carefully BEFORE ADVISING PEOPLE ! Quote : Subsection 222(1A) of the CMSA provides that, for the purpose of paragraph 222(1)(b) of the CMSA, the acceptance shall not include shares already held at the date of the take-over offer by the offeror or the person(s) acting in concert.
In the event the Offeror receives valid acceptance of not less than nine-tenths (9/10) in the nominal value of the Offer Shares (excluding shares already held by the Offeror and the person(s) acting in concert with it as at the date of the Offer) on or before the Closing Date, the Offeror intends to invoke the provisions of subsection 222(1) of the CMSA to compulsorily acquire any remaining Offer Shares from the Dissenting Holders for which acceptances have not been received. Unquote:
LTAT and person acting in concert held 68.17% before LPD. That means 31.83% are in the hands of the public. To invoke compulsory acquisition, LTAT must receive acceptance from (9/10) 90% of the 31.83% (90% x 31.83% = 28.65%). That means LTAT (including party in concert) must finally secure control on 96.82% (68.17+28.65) to invoke compulsory acquisition.
Investors behind UBS alone is sufficient to block the compulsory acquisition !
Bplant will be delist, It may remain as unlisted public company if there is enough dissenting investor refuse to accept the offer at $1.55!
The conservation valuation made by Malacca Securities, the independent advisor, is $2.60.
Why you think inventors behind UBS bought over 5% at $1.54/1.55 ?
Mr Johnzhang and Mr CalvinTaneng: so with regards to Bplant, what to do now if still holding on to the shares? Rather confused after reading the above discussions. To wait and see/ what UBS will do/ risk Bplant delisting? Will we be paid if it is delisted finally?
Notified of transferred of my BPLANT shares to LTAT on 7/12, however, yet to receive payment, told to wait by dealer. Any one here faced similar issue?
Mine also around same date. Queried with registrar on payment within 10 days, was told bursa don't allow LTAT to access bank details of shareholders. So they are going to courier cheques on 29/12/23
Poor service of the Registrar! If it is true that Bursa did not allow such facility, Bursa is being unreasonable ! Why payment of dividend via bank a/c registered in CDS allowed ?
Alot of people complained that the payment for the takeover is paid in the form of cheques instead direct bank credit, this is bcos LTAT use Boardroom instead of the usual TRICOR as the registrar.
This result is technical problem, in terms of accessing into shareholders bank particulars loh!
Anyone yet to receive payment after 10 days can write a complaint to CFO of LTAT at ashrafradzi@ltat.gov.my. May also call him at 03 48158888 ext 1200.
Dear all at Bplant forum Ltat has issued final note that acceptance offer of Rm1.55 for Bplant will not be extended by Jan 5 2024
and within 5 days after that Bplant will be suspended from trading in Bursa as Ltat has official acquired more than 90% of Bplant shares
since Ubs Bank also surrendered and given up it's shares now chances of higher offer price after listing is slim
so please act fact to accept offers
Do not get caught holding unlisted Bplant shares
Congratulation to all who bought cheap and now reap a windfall
The privatisation and takeovers of palm oil palm started long ago with shares like Austral Enterprize, Golden Hope Plant, Tradewind, Guthrie, Unico Desa, Sindora, Tmakmur, Kulim, Kwantas, Ijmplant and latest Bplant
there will be more takeovers and privatisation of Palm oil shares in future months and years to come
Palm oil with it's cash generating crop plus high value lands which can only appreciate in value more and more and even more over the years have turned their lands into "gold mines" eventually
This has been and will be one of the safest (though dull) investment around
in 2021 when Bplant was 57 sen there was very cold reception then and after posting buy all at 57 sen Bplant even dropped below 55 sen as few bothered or wanted anything to do with it
now Bplant over Rm1.53 still go bullish die hard holders hoping for a higher price 🤔
just be careful as Ltat already stated Bplant might turn into an unlisted share and you might be stuck inside for a very long time
Now we once bought Fountain View which was delisted and remain unlisted with no more news
Better don"t be greedy
Sell all tomorrow and take your monies
Bye bye sayonara to Bplant
it has been a very fruitful two good years of holding Bplant with good dividends and a fair final offer price of Rm1.55
let us move on to these
Tsh Resources
Thplant Jaya Tiasa Hs plant Next month Hs plant will declare another dividend
In 2021 when we first posted buy call for Bplant at the rock bottom price of 57 sen buyers were few and far between
Today after Ltat wants to take it private at Rm1.55 and warn all Bplant will be delisted and might exist as an unlisted entity with no trading and quotations
Yet people chased Bplant up to new high at Rm1.57 closing??
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2,955 posts
Posted by Johnzhang > 2023-12-28 09:58 | Report Abuse
Mr Calvin Tan,
Do not simply brand people foolish. It is up to individual on risk taking !
with due respect , yourself is IGNORANT on the term for compulsory acquisition . Please at least read the takeover offer document carefully BEFORE ADVISING PEOPLE !
Quote :
Subsection 222(1A) of the CMSA provides that, for the purpose of paragraph 222(1)(b)
of the CMSA, the acceptance shall not include shares already held at the date of the
take-over offer by the offeror or the person(s) acting in concert.
In the event the Offeror receives valid acceptance of not less than nine-tenths (9/10) in
the nominal value of the Offer Shares (excluding shares already held by the Offeror and
the person(s) acting in concert with it as at the date of the Offer) on or before the Closing Date, the Offeror intends to invoke the provisions of subsection 222(1) of the
CMSA to compulsorily acquire any remaining Offer Shares from the Dissenting
Holders for which acceptances have not been received.
Unquote:
LTAT and person acting in concert held 68.17% before LPD. That means 31.83% are in the hands of the public. To invoke compulsory acquisition, LTAT must receive acceptance from (9/10) 90% of the 31.83% (90% x 31.83% = 28.65%). That means LTAT (including party in concert) must finally secure control on 96.82% (68.17+28.65) to invoke compulsory acquisition.
Investors behind UBS alone is sufficient to block the compulsory acquisition !
Bplant will be delist, It may remain as unlisted public company if there is enough dissenting investor refuse to accept the offer at $1.55!
The conservation valuation made by Malacca Securities, the independent advisor, is $2.60.
Why you think inventors behind UBS bought over 5% at $1.54/1.55 ?
You